Major polysilicon producer Daqo Clean Energy has reported strong financial results for Q3 2022 as the demand for its solar grade polysilicon remains strong and it continues to land large supply contracts.
Daqo New Energy has signed a ‘Procurement Framework Contract’ with a customer who will purchase 432,000 tonnes of solar-grade high-purity polysilicon from the company and its subsidiary Daqo Inner Mongolia between 2023 to 2028.
Subsidiaries of polysilicon producer Daqo New Energy have signed a five-year polysilicon supply agreement with solar wafer manufacturer Shuangliang Silicon Materials.
China’s polysilicon price finally stabilised this week, according to the Silicon Industry Branch of the China Nonferrous Metals Industry Association, following several long-term contracts being signed, helping to reduce market volatility in the short-term.
Solar polysilicon prices jumped by a further 4% this week, fuelling industry assessments that prices will soon jump above the RMB300/kg (US$44.74/kg) barrier.
Polysilicon producer Daqo New Energy has received approval from the Shanghai Stock Exchange for a private offering on China’s A-share market to support its capacity expansion.
Both GCL Technology and Daqo New Energy have leapfrogged Wacker Chemie in Bernreuter Research’s annual polysilicon top ten rankings, completing a China-based top three.
